Analysts are mostly counting on Apple to deliver yet another quarter of double-digit earnings growth when the Cupertino Colossus reports fiscal Q3 results next week.
For those keeping score, AAPL has wowed analysts with solid double-digit results the last two quarters and three of the last four. In its fiscal Q2 alone, AAPL handily beat Wall Street’s expectations with a $23.6 billion profit on revenues that surged 54% to $89.6 billion. iPhone revenue in fiscal Q2 surged 65.5% to $47.94 billion, beating estimates on Wall Street by about $6 billion.
That’s got some analysts predicting a record-setting year in which net profit could eclipse $70 billion, nearly a third higher than last year’s, according to some estimates.
After a really bumpy start to the year that included a 20% correction from its peak, shares of Apple (AAPL—candlestick) have had a burst of energy over the last two months and now are nearly even with the S&P 500 Index (SPX—purple line) year-to-date…
AAPL is expected to report adjusted EPS of $1 per share, vs. earnings of $0.64 per share in the prior-year quarter, according to third-party consensus analyst estimates. Revenue is projected at $72.93 billion—up 22% from a year ago.
Options traders are pricing in about a 3.7% stock move in either direction around the upcoming earnings release around the coming earnings release.
MacDailyNews Take: We expect record earnings when Apple reports after the closing bell next Tuesday.
As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT on July 27th. Just check our homepage on that date at that time.
The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT. We will also cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.
Interns, Tap That Keg™! Prost, everyone! 🍻